Double Coin has expanded its distribution infrastructure in the USA with the addition of a new warehouse in Houston, Texas. The new facility, Double Coin’s largest warehouse in North America, began operations on 15 September 2020. It includes office space, 29 dock doors and two drive up ramps. According to the company, the warehouse will serve the growing demand for Double Coin’s comprehensive range of truck and OTR tyres.
Bush Tyres is set to open three new locations during the next couple of weeks. First off, the company is opening retail centres in Norwich and Immingham. In addition, Bush Tyres has invested in a new 70,000 square foot warehouse as well.
Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company’s shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?
Ceat Limited commissioned the second phase of its Nagpur plant in India’s Maharashtra state on Monday. The tyre maker says the two-wheeler tyre capacity added by this expansion project will be “be ramped up over a period of time, based on market demand and our overall capacities.”
Goodyear’s decision to exit UK retreading in 2015, followed by Continental’s 2016 takeover of Bandvulc and Vaculug’s 2018 acquisition by Zenises Group changed the face of the UK retreading business in just three years. However, while the market has both contracted and consolidated in recent years, a core group of key retreading production bases remain. And while the largest retreading businesses often gain the spotlight, it is worth mentioning fast-growing operations as well. Sussex-based Seryt Tyres is one such company, so Tyres & Accessories got in touch with director Kevin Gillin and marketing manager Olly Townsend in order to find out more.
Hubei Linglong Tire Co. Ltd., Linglong Tire’s fourth domestic Chinese manufacturing base, celebrated the production of its first truck tyres on 21 November. Dignitaries from Jingmen, Hubei, China, and Hubei Linglong Tire witnessed this historical moment together.
In January 2019, construction of the United Arab Emirates’ (UAE) first tyre plant began. Now, the best part of a year later, sources operating in the Middle East and Africa region report that the Roadbot factory, which is being built in KIZAD’s China-UAE Industrial Capacity Cooperation Demonstration Zone by Tirebot, is nearing the completion of its initial stage of development. During the ground-breaking of the plant in January, company representatives said the factory would become operational in October 2020. As much as US$600 million is reportedly being invested in the project.
On 16 October Prinx Chengshan held its 2019 International Dealer Conference in the historic city of Xi’an. The theme for this year’s conference, which was held four years after the last one, was: “together for future”.
Lassa Tyres has reported that the brand has grown international exports by 60 per cent during the last five years. Top countries, where Lassa Tyres were sold during 2018 include Egypt, Italy, Germany, Austria, Ukraine and Morocco.
Continental is investing roughly 100 million euros in the expansion of its Lousado, Portugal radial earthmoving and port tyres production facilities. As a result of the investment, the newly-expanded plant, which will continue to focus on production of tyres with diameters over 24 inches, more than 100 new jobs will be created.
Kwik Fit has grown into the fourth largest branded tyre retail network in Italy just three years after the chain got underway in Italy. 51 centres now operate under the Kwik Fit brand across the country, with the network most recently adding a well-established operator in San Marino.